First Call Date

First call date is the earliest date on which an issuer may redeem a callable security under its terms.

Why this matters to income investors

Issuer redemption may end a high coupon sooner than the investor expects.

How to use first call date in your research

Check the contractual dates and any right to repay early. Compare the cash flow you expect with what could happen if principal returns sooner or later and must be reinvested at a different yield.

This material is general education and information, not individualized investment, tax, or legal advice.